BusinessAugust 26, 2026
offshoring
OF-shor-ing
Definition
The practice of basing some of a company's processes or services overseas, usually to take advantage of lower costs.
Etymology
The word is a 20th-century compound of 'off' and 'shore,' originally referring to oil drilling platforms located away from the coast before evolving to describe business operations relocated to foreign countries.
In the news
The article uses the word to describe the decades-long trend of American semiconductor manufacturing moving abroad, a trend the CHIPS Act aims to reverse.
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